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witt" starts now. >>> almost nowhere. that's the words from the gop on fiscal cliff talks. but exactly where is that? and how will congress and the white house get somewhere? >>> the tug-of-war in the middle east. some new wrinkles that beg the question, is any resolution in sight for israel and the palestinians? >>> unsolved mystery. that huge powerball jackpot raised some unanswered questions beyond who won. >>> having their cupcake and eating it, too. big new twist in the hostess going out of business story. good morning, everyone. welcome to "weekends with alex witt." let's get to what's happening right now out there. there is new intrigue in the fight over the fiscal cliff talks today. both sides have messages out this morning that seem to echo the same old position. this on the heels of president obama holding a campaign-style event in suburban philadelphia to sell his solution. he said if congress does not extend the bush tax cuts for the middle class, everyone's taxes will go up january 1st. >> i'm assuming that doesn't sound too good to you. that's sort of like the lump of coa
. >> he said america can't afford itself right now the way we're going. fiscal cliff talks today continue with geithner making the rounds on capitol hill. later this morning, third quarter gdp expected to be revised higher. economists expect gdp for july to september to be revised from 2% to 2.8%. that would be good news. this is still modest growth. everyone hopes that next year will be a better year than this one in terms of growth. you want to see more than 2.5% growth consistently. >> i will say amen to that. >>> if at first you don't succeed, coming up, south korea trying to launch another rocket. find out how it went this time. >>> and if you are leaving the house now, watch us any time on your desk top or your mobile phone, just go to cnn.com/tv. a , try running four. fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. but when i was in an accident... i was wo
. >>> rejected. the gop snubs the white house's opening offer in fiscal cliff talks. >>> upgraded palestine celebrates a new status despite stiff american opposition. >>> rich and now famous. we know the identity of one of those lucky power ball jackpot winners. >> that's good news. >> can't wait to meet that person. >> good morning. welcome to "early start." i'm christine romans. it's friday. >> happy friday. john berman is hosting "starting point" at 7:00. the middle east is getting ugly. insult and finger pointing in the fiscal cliff debate. tax rates spike and spending slashed. congress is breaking for the holidays in two weeks. it could send the economy spinning in directions. $1.6 trillion in tax hikes. he will travel to pennsylvania to sell it to you. republicans aren't buying it. listen to house speaker, john boehner. >> despite the claims the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. >> democrats are firing right back at boehner. harry reid getting a little personal. >> i don't understand his brain, so you should ask him
involved in the fiscal cliff talks. he wants the america's youth to use the social networking prowess to get congress to take acon. does even the almighty psy have the power to get everybody together? i don't know. joining us with democratic congresswoman karen bass. thank you so much for joining our show tonight. obviously alan simpn is very worried about people getting involved. do you feel like the american public is tuned into this debateor are they sick of hearing all the fighting back and forth and they're tuning out? >> you have to love t former senator. he is quite hilarious. i think people are tuned in. i think people are aware. people know that, you know, 98% of americans could have their tax rates stable and not have their taxes go up. and you know, there are some taxes that would go up if we two off the fiscal cliff. you're talking about a family that makes about $50,000 having a tax increase of $4,000. melissa: congresswoman, this drives me crazy. when we look at all the numbers we immediately start taing about taxes. it seems like we're looking for revenue under every si
. at a time we're talking about raising taxes and the fiscal cliff and what financial problems we're in this country, i read these numbers i want to tear my heart out. how do you feel? >> melissa, it is worse than that. in '09 he had the navy pay $424 a gallon for 20,000 gallons. that is fuel on the market you could buy for $3 a gallon. $424 a gallon. in mind, this president has had a war on our defense system. he disarmed america. he has done away with our brigade combat teams, our ships, our f-22s, c-17s, future combat systems. he uses the excuse. no, i have not reduced the budget for the defense. but what he has done, melissa is move his green agenda into the, under the defense so we're paying for all this. now, senator mccain and i took this out. we had two changes that we made in the law to keep them from doing that. one was a section that said you can no longer use our readiness dollars to buy all this fuel and all this stuff. and then, we also have had a prohibition against using defense dollars to build refineries. that can be done in the private sector. well on the floor
in preparation or all been wary about the fiscal cliff, let's see where we are, talking about a dollar jumping, positive for the weekend all up arrows and a great day on wall street after yesterday when tim geithner was sounded more optimistic and we continued that trend to the upside today but a short time ago we saw john boehner talking and sounding less optimistic and somewhat pessimistic. when you don't see clarity and you don't have bipartisan agreement you see the markets do a reversal and that is what you see on this injured they chart with the s&p 500 still holding the 1400 mark to the key psychological level but this shows how temperamental this market is and we have seen so many companies beating up their dividend payout in order to beat taxes that are likely to go up next year so there's a lot of maneuvering going on. dagen: cheryl: market analyst quoting john boehner unit is about washington. thank you very much. it is a busy day in washington and new york is watching, tim geithner is meeting with congressional leaders in an effort to make headway on a fiscal cliff deal. peter barn
fiscal cliff that people are talking about? what about the danger of another recession, an economic slowdown? automakers are saying that they are prepared for that because they've got a better mix of cars this time. and they are pushing full bore ahead with new technology. we spoke with sprint, which is introducing a package to automakers that will actually turn your car into a wireless hot spot. enabling passengers to surf the internet. enabling you if your teenager is driving the car to make sure no one is texting while they're driving. they're going full steam ahead. let's listen. >> so imagine, if you will, you're driving the family to the summer vacation home. right? your wife could be paying bills via her laptop or tablet in the front seat. your kids could be youtubing or facebooking in the back seat, downloading a movie off netflix. everyone is happy including the driver not having to stop every 15 minutes to go to the bathroom. the kids are focused on what they want to do so the entire consumer experience in the vehicle is enhanced. >> and it's not all about practicality. ne
another meeting. today president obama meeting with governors on the fiscal cliff talks so what is really going on behind the scenes? well, i will tell you what, we'll ask governor gary herbert of utah. he actually met with the president so we'll get a first-hand account. tracy: yeah, that will be interesting. is red tape standing in the way of a housing recovery? will foreclosures bog down in court proceedings? our very own judge napolitano is here to give us the scoop on that. ashley: plus, say it ain't so. the bubbly is losing its physician. the champagne industry suffering from a hangover from europe's economic woes. there hasn't been a lot of celebrating across the pond lately. we'll have more. tracy: i wonder if europe is drinking wine instead? ashley: they're drinking something. they will never give that up. tracy: they do it in church, heck. all right, top of the hour, time for stocks as we do every 15 minutes. we head down to nicole petallides on the floor of the new york stock exchange. girl, we are, as ashley said, drifting and it is all because of washington, isn't it? >> ther
in cairo. we will have the latest on that coming up. if you are sick of all this fiscal cliff talk. wayne rogers is also. wayne has the answer to all of our debt problems. he is coming up a little bit later on. first, speaking of markets, let's take a look at current fees and how are faring against the u.s. dollar. ♪ ♪ [ engine vs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz deer. you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. >> 521 minutes past the hour, i
over the fiscal cliff talks. now republicans and democrats can't even agree on where things stand. >> no substantive progress has been made in the talks. >> and you know there is progress. >> treasury secretary tim geithner sat down with bipartisan congressional leaders to keep pushing for a deal. a top boehner aide said the plan geithner presented is, quote, completely unrealistic. and a top democratic aide said republicans have taken to screaming at them. if no action is taken by december 31st, 650 billion in cuts to the pentagon and domestic programs and tax increases automatically go into effect. after the meeting, the finger-pointing came quickly. republicans say democrats aren't bringing to the table a plan that include significant cuts to medicare and entitlement programs. >> revenue was only on the table. if they were serious. spending cuts. >> the white house drew its own line in the sand and said tax rates must go up on the top earners, but -- >> the middle-class tax cut should be made permanent. >> president obama stayed out of the fiscal cliff discussions and sat down
this fiscal cliff and move on. connell: we probably would be talking a lot more about china and the transition of power and how president obama is supposed to do without. when you say there are economy is not doing that great, does that mean it is in jeopardy of a tough all, or it will hang in there? >> i think it will hang in there. china, i think, will grow. reasonably, i have seen some analysts come out and be pretty bullish. their economy, the outlook is willing not that bright. although, they probably will not fall hard. china is sort of setting their status quo. i think the u.s., again, back to the u.s., they have to get their act together. connell: a few days after the end of the year. that is just silly, if you think about it. if we all know the answers, why do we have to wait until the new year. thank you very much. good to see you. dagen: as the nation waits on washington, what is really going on behind the scenes? brett fair on the timeline for a deal in d.c. the mississippi river will always have its own way. no engineering skill can persuade it to do otherwise. the river is doing
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reporters that he is optimistic about the overall fiscal cliff talks, martha. martha: we'll see. the way they speak publicly there doesn't seem to be a lot of budging on either side. we know there were pretty high profile white house meetings, but those conversations, not happening publicly right now, but are they going on behind closed doors do we think? >> reporter: we know president obama and speaker john boehner had a phone conversation last night. a source familiar with the call said it lasted more than 15 minutes. that's critical because think deal will need to be carried by the two of them, bottom line democratic leaders here on the hill will go along with the president's plan, speaker boehner needs to be able to sell it in the house, martha. martha: there was a report that there was a curt, tense conversation. now we are learning that it went on as you said, mike for 15 minutes and the men had quite a bit to talk about. we'll see where it goes. thank you, mike. >> reporter: thank you, martha. bill: the state of arizona just announcing it will not create a state insurance exchange
geithner is up on capitol hill to lead negotiations on the fiscal cliff talks. >> you're not going to grow the economy if you raise taxes on the top two rates. that's not the right approach. >>> string of nasty storms barreling into the west coast. powerful winds have started knocking out power. >> just need to get to the other side of town. i don't have a choice. >> picked a bad day to do it? >> yeah. >> u.s. embassy in cairo is closed. the entrance is blocked by protesters as clashes erupt nearby. >> zebra and s hechlt tland pony ran wild through the streets of new york city. they apparently escaped from a petting zoo. >>> nypd says actress lindsay lohan has been raefed and charged with assault. >> three, two, one. >> only nbc would make a television event out of plugging something in. >> all that -- >> oh, humphries and rondo get into it. officials trying to get control here. >> don't tell me what i think. when i said i didn't have a problem, i don't have a problem. got it? >> and all that matters. >> president obama plans to play host to his old political rival, mitt romney. >> on "cbs
at the white house at an interesting time. not only are the fiscal cliff talks going on, which mitt romney might have some input on that, but suzanne, as you well know, what is also happening right now, they are getting prepared for the inauguration just outside the grounds of the white house. they're putting up the bleachers for what's happening on january 21st. probably a bittersweet moment for mitt romney as well on that front. >> yeah. that's probably true. let us know what they're serve and if there's anything that comes out of their discussions today. thanks, jim. good to see you, as always. >>> palestinians, they want their own state, of course, and a vote by the u.n. today could actually put them one step closer to getting it. there's big news. presenting androgel 1.62%. both are used to treat men with low testosterone. androgel 1.62% is from the makers of the number one prescribed testosterone replacement therapy. it raises your testosterone levels, and... is concentrated, so you could use less gel. and with androgel 1.62%, you can save on your monthly prescription. [ male announc
of action in washington on the fiscal cliff talk. >> we're going to begin there. signs, perhaps, of a potential compromise there to avoid the so called fiscal cliff that would raise taxes on a typical american family by some $2,200. republican congressman tom cole, of oklahoma, is urging republicans to accept president obama's deal and allow the bush-era tax cuts on the wealthy to expire for now. so tax cuts for the middle class can stay in effect. but house speaker john boehner remains opposed, saying a tax hike on the wealthy will hurt the economy. >>> today, president obama is hosting mitt romney at the white house for a private lunch. after the election, the president promised to reach out to romney for his ideas. >>> and overseas, the u.s. could be getting more involved in the civil war in syria. "the new york times" is reporting the obama administration is considering options, including arming the rebel fighters there who have made progress in recent days in battling bashar al assad's forces. >>> and more trouble for president obama's expected nominee for secretary of stat
the same situation -- >> do you blame this on the fiscal cliff in part? >> it's part of it. we talk about four gray swans, eurozone, middle east, china, hard/soft landing, definitely soft in our view, and last but not least what's going on here. back to our conversation in may, we said all the focus on the eurozone crisis, it will turn to america pre-the election as it has done and post the election the fiscal cliff is a critical issue. and every day you get a different view. i was in washington, what, would weeks ago, came away very, very concerned because all the experts were negative. and then you sort of felt a little bit, you saw the president reaching out to business and vice versa. you saw the fix the debt movement and ceos making a strong move on the hill. but yesterday things took a turn for the worse. so i guess we'll have these ups and down, but most of the people i talked to wouldn't bet on a solution by december the 31st. in those circumstances, people are not going to make commitments. >> what if we have a solution by the middle of january? is that something that is -- 1 it
cliff? >> compared to what obama's talking about, the fiscal cliff might be better because obama not only wants soak the rich tax increases that would automatically happen, he then wants additional taxes on top of that would be very bad for american competitiveness. we don't want to send jobs to china and india but almost as if obama wants to do that. at least if we went over the cliff, we would get the sequester, which is the budget wonk term for automatic reductions in the growth of spending. melissa: absolutely but i'm not sure republicans are giving in as much as you think. if you drill down on the details, as soon as i saw 800 billion in new tax revenue, my immediate question did they give on the point of marginal rates and from the language it doesn't look like. more a tax code basically closes loopholes. they employ all the euphemisms to say you will get rid of deductions. sounds like that is where the 800 billion in new revenue is coming from. they didn't give on marginal rates at all. >> that is good news but only good news in the sense we're not traveling as fast in the
with each leader this morning to talk about the fiscal cliff or slope or curve. but whatever you call it, politico's front page headline reads, fiscal cliff deal emerging. it hashes out the flame woframe agreement including $400 billion in cuts to entitlements. but how close are they really? depends on who you ask. >> what's going on between the decision makers is little to nothing. >> you can actually now see what the contours of the deal look like. >> i'm optimistic that we can continue to work together to overt this crisis and sooner rather than later. >> we will not negotiate the end of medicare. i don't know what it is with these republicans. >> it's safer if you're on the progressive end of the political spectrum to go over the fiscal cliff than it is to agree to some of the things they're talking about. >> ruth, where do you stand, deal or no deal? >> not who deal, but who are more pessimistic. the clock is really ticking. about ten legislative days left in the year. outlines are there but the willingness to do it and the ability to get it done in time, i'm more disappointed than
, it is a friday morning and this is not a game. words from john bain other as we get react on fiscal cliff talks that exploded in the open. saying that it reads like a democratic wish-list and could plunge the economy back into recession. oh joy. welcome here. i'm bill hemmer. live in "america's newsroom.". martha: good morning, bill. bill: we'll find the silver lining in this, aren't we? martha: we are. bill: that is our quest. martha: i'm martha maccallum. here are the basics when they put forth through tim geithner yesterday from the president. 1.6 trillion in new taxes. that is the opening part of the deal. 50 billion in new stimulus spending. we already had a lot of backlash in stimulus in previous packages. this is interesting element here. new executive power to raise the debt limit. that is what caused so many of these discussions because they bump up against the debt limit and not be able to go back this. there is executive power plea to be able to do that without going back to confess. republicans are saying where is the balance? where is the spending cut side of the equation. the pres
tryinging to kick start fiscal cliff talks. just 33 days. congress breaks for the holidays in 15 days. >> treasury secretary tim geithner is going to try to get the talks moving today. he'll meet with congressional leaders on capitol hill. let's go to dan lothian live in washington for us. dan, tell us should americans be hopeful something will be done in 15 days? that's before congress goes on vacation. >> let's remind a little bit. it was a week ago when president obama met with congressional leaders before he went overseas. there was a sense of optimism that they could get something done. now it appear it is two sides are still very far apart. so that's why you see the president pushing this tax extension for middle class americans. the president believing this is not necessarily the answer, the comprehensive answer. it's part of the solution. he's been meeting with small business owners at the white house. with big-time ceos as well. yesterday had middle class americans who expressed how they would be impacted by taxes going up to the tune of $2200 if the middle class tax extensio
the real problems, the fiscal cliff, and the other group is talking about the real problem, the debt and deficit. what is the real issue? we have $16.3 trillion in debt as a nation. $1 trillion of overspending or each year for the last four years. let me set the example of what this really means. in 2007, our tax revenue, how much we were bringing in the treasury, is almost exactly what it is in 2012. from 2007 to 2012, the revenue is almost identical. the difference is our spending has gone up $1 trillion a year. from 2007 to 2012. so over the course of that time it's slowly built up. but each year we've been over $1 trillion in spending. while our revenue has stayed consistent basically from 2007 to 2012, that spending has happened. we seemed to identify that is the real problem, we're overspending, and until you deal with that issue you can't raise taxes enough to be able to keep up with the $1 trillion of accelerated spending. what's the cliff? i have so many people from my district and other people, who catch me and pull me aside. we hear about the fiscal cliff. we are not even
averting the fiscal cliff, but he's just not talking to house republicans about it. at the white house, he discussed the issue with a bipartisan group of governors. >> i know that the president wants a deal and he didn't try to handicap it. >> reporter: earlier this week, he told so-called middle class americans on twitter, keep pressure on congress. he's even ventured outside the beltway rallying supporters to do just that. >> i'm going to be asking for you to be making your voices heard. >> reporter: why isn't he calling speaker boehner? >> we speak frequently. >> reporter: when will the two of you sit down in a room? >> i don't think the issue right now has to do with sitting in a room. >> reporter: in part, the white house was burned with the negotiations in 2011 when lots of meetings failed to stave off a fiscal nightmare. but there's another strategy at play. some in the administration say they learned in the first term the best way to break washington stalemates, rally the public to their cause. here's how the president put it to cbs news. >> so getting out of this town, spending mo
that so-called fiscal cliff. but on capitol hill, talks there have pretty much hit an impasse at this point. neither republicans nor democrats seem willing to budge on the issue of tax rates for the wealthy. unless the two sides can reach some kind of deal, spending cuts and also tax hikes will collectively take effect starting january 1st. the clock is ticking. >> it is. >>> the united nations has overwhelmingly approved recognition of a palestinian state, a move staunchly opposed by the u.s. and israel. >> but in the west bank and gaza, palestinians, they celebrated on the streets. the historic vote upgrades palestine to nonmember nonvoting observer status only. meanwhile, u.s. ambassador, susan rice, she denounced the resolution. saying, quote, it's counterproductive to the goal of mideast peace. >> and the palestinian people will wake up tomorrow and find that little about their lives has changed, save that the prospects of a durable peace have only receded. >> rice added that the u.s. will continue to stand up against every effort that seeks to undermine israel's security
inching closer toward a deal that would avoid a fiscal crisis at the end of the year. that fiscal cliff we talk about. the nasdaq just 24. the s&p 500 rose roughly 11 for it. the future of the dollar bill will be the topic of discussion on capitol hill today. the government accountability office will again try to convince the u.s. by switching from bills to more durable corns makes more sense. this would be the first time the g l made the change--would not be the first time. dollar bills are considered to be easier and led to carry. >> 507 $9 million power of jackpot winning tickets were sold in missouri and arizona. they matched all six numbers. they have no information on the winter. the will of elsewhere in when it was sold at a news conference today. someone is now million dollars richer during an interview with fortune mayor explain " we literally are moving the company from blackberries to smart phones. one of the really important for ya hoo as strategy is mobile. that is why they are moving forward. >> we will take a quick break we will be back with more headlines. the time is 4:12.
the potential fiscal cliff that everyone is talking about. he is smiling. today the president and republican lawmakers publicly bashed each other on their plans for a deal. the details are ahead. a man with a big heart. a santa costume and a lot of $100. a lost them. he is bringing early holiday cheer to super storm sandy victims. that is ahead unless breaking news changes everything. this is "studio b." first from fox at 3:00 in new york city we met the family that held one of the winning tickets to the record-breaking $588 million powerball jackpot. cindy hill bought the ticket in dearborn, missouri, population 500, half hour north of kansas city but she held off on checking the numbers. >> i didn't find out until the next day after i took my daughter to school and i want by to sigh the numbers. i got back in the car and i didn't have my glasses and i was, like, anying is that the right number? is that the right number? i was shaking, i called my husband and i said i think i am having a heart attack. >>shepard: i want a divorce. her husband, a mechanic, said he needed to seat winning ticke
into this morning as we talk about the fiscal cliff. erskine bowles says he thinks democrats and republicans are serious about getting a deal done, but when you hear congressman cole walking back statements, do you think that's true? >> cole doesn't want to be a political target of the right. so he can easily say i really didn't mean that prks and to ge of the news. and probably trying to set the table for other guys. which is a signal that the right wing is still very stuck in con kreetd as you said earlier. they don't want to move. they are denying election results. but there is real ominous things i think that are starting to surface here. any talk of a mortgage deduction change would be horrendous in my opinion and it would fly in the face of everything barack obama and joe biden ran on in protecting middle class. they have to be crystal clear that that is off the table. the housing crisis started the last recession. if they go after mortgage deductions, if they put that on the table even for high end homes, that will change sales, it will reduce prices on homes, it will slow constructio
the real fireworks were. partisan sniping and a clear sign that talks on averting the so-called fiscal cliff and preventing a big tax hike for everybody are going backwards fast. just listen to the democratic senate leader talking about the speaker of the house today. >> i don't understand his brain, so, you should ask him. >> reporter: president obama and speaker boehner spoke by phone last night in a call sources tell abc news was blunt and unproductive. both men refusing to give ground on the issue of tax rates for the wealthy. obama insisting they go up, boehner insisting they don't. >> listen, this is not a game. jobs are on the line. the american economy is on the line. this is a moment for adult leadership. >> reporter: and taxes aren't the only sticking point. republicans are demanding the president come forward with a plan to limit spending on medicare and social security, something many democrats say is just not acceptable. >> i didn't have my own card with me. jill wouldn't let me have one. >> reporter: vice president biden got into the act today, too, taking a break from ch
and looking at the fiscal cliff and talking about raising taxes that will not put a dent in the spending, so what is the answer? >> gretchen: the suggestion i make let's go back to the programs we had five or six years ago. there was a safety net five or six years ago. if you lost your job in 2006, you got some help but not the type of help people have got since then. we go back to that situation and maybe we have a hope much having a labor market go back to the way it was five or six years ago. >> gretchen: professor which politician, republican or democrat is going to be doing what you just said? >> not the ones from my district. >> gretchen: i mean, they are in eight bind are they not? republicans and democrats are in a bind. will be the one to come to the podium and say let's stop those unemployment benefits. >> it is a bind and the europeans worked it out before . they found helping for the unemployed is politically popular and economically damaging and they did it for decade upon decade and continue to do it. and so yeah, i am not optmistic that we will go back to where we were five ye
secretary geithner toward fixing the fiscal cliff that's been so much talked about. and i just want to say, sadly, that the facts are that real numbers disprove what they have alleged the plan would do. and we've look the at the numbers. there's no real mystery about this. and there are gimmicks and manipulations in the way they've expressed what they intend to accomplish that i think are beyond the pale and the american people need to know that it's not accurate. this would not be possible if we had the plan on the floor so it could be voted on in the light of day. but we all know what the plan is, the scheme is, the strategy is. it is to be meeting in secret, and then plop down on the floor of the senate at the last hour some sort of coerced agreement that all the senators, like lemmings, are supposed to vote for. and we're supposed to expect that the american people will believe the agreement is what the president says it is, but that is not in reality what's occurring. he's been -- secretary geithner -- meeting with senate -- house members, particularly last week. he presented a propos
by the looming fiscal cliff. we've heard a lot of talk, a little progress, and several signs that this debate may go up to the last minute. >> i will violate the pledge, long story short, for the good of the country only if democrats will do entitlement reform. >> no pledge taker has voted for a tax increase. >> times have changed significantly and i care more about this country than i do about a 20-year-old pledge. >> we would certainly highlight who has kept their commitment and who hasn't. >> if the president's willing to accept 80% of the bush tax cuts for 98% of the american people, and make them permanent, i think that is a point we should agree on. >> if congress does nothing, every family in america will see their taxes automatically go up at the beginning of next year. >> time for the president, congressional democrats to tell the american people what spending cuts they're really willing to make. >> the president has made his proposal. we need a proposal from them. >> those are the highlights. let's bring in mark murray. mark, good friday to you. negotiations started in earnest yesterday
some compromise to avoid this moment known as the fiscal cliff. with 32 days to go until the make or break point, it is where we begin tonight with our white house correspondent kristen welker, good evening. >> reporter: good evening, president obama tried to sell his plan in the suburbs of philadelphia today. it is a tactic he thinks has worked in the past, but it did very little to sway the congressional republicans. president obama turning up the heat on republicans. >> hello, hatfield. >> reporter: taking his case for higher taxes on the wealthy to pennsylvania today. >> i don't think it is acceptable to you for just a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. >> reporter: speaking at a factory, mr. obama argued that if congress can't get a deal, taxes will rise about $2,000 average for a family. of coal you get for christmas, that is a scrooje christmas. >> let's not kid ourselves. >> reporter: house speaker john boehner balked. >> increasing tax rates draws money away from
will join us live to talk about the fiscal cliff negotiations. >>> a nightmare story straight from the subway tracks. a man pushed in front of a train. we'll have details from new york city. the second hour of "happening now" starts right now. jenna: former president george w. bush stepping into the spotlight to talk about two big topics in our country today, the economy of course and immigration. we welcome you to a second hour of "happening now." we're glad you're with us. i'm jenna lee. jon: i'm jon scott. a conference in dallas on economic immigration and growth. it highlights a story of immigrants making impact on the economy. president bush opening the event advocating for immigration reform to get the economy growing at a healthy rate. >> immigrants come with new skills and new ideas. they fill a critical gap in our labor market. they work hard for a chance for a better life. jon: our casey stiegel is keeping an eye on all of this live from dallas. >> reporter: jon, you're a pilot so i know you remember the jet age. we're talking about a point in american history in the '50s
we ought to be working on, talking about resolving is the fiscal cliff. it simply puts another dysfunctional fight between republicans in congress and the administration front page for them to nominate a new secretary of state and have her held up for weeks and weeks at a time when there's issues all over the world that demand a clear and strong secretary of state. to her qualifications, i'll say this. it is vital in negotiating with foreign heads of state in representing the united states around the world in crisis spots and in working with close allies that a secretary of state be known to have the full confidence of the president. that they be trusted and relied upon. she certainly does have that. a close relationship. >> bill: on the fiscal cliff what is going to happen. will we avoid going over the fiscal cliff? senator chris coons will tell us that when we come back here on the "full court press." nothing like pressure here. >> announcer: this is the "full court press." the "bill press show." live on your r
of negotiations not going over the fiscal cliff. let's listen in. >> that ends up on store shelves in 30 countries is stamped made in america, and that's something to be proud of. that's something to be proud of. >> by the way, i hope the camera folks have a chance for take a look at some of the k'necs, including that flag made of them. joe biden was in costco. he wanted buy some of this stuff, but i told him he had too much work to do. i wasn't going to have him building roller coasters all day long. now, of course, santa delivers everywhere. i have been keeping my own naughty and nice list for washington, so you should keep your eye on who gets some k' necs this year. some members of congress will get them, and there will be some who don't. [ applause ] >> this is a wonderful time of year. it's been a few weeks since a long election finally came to an end, and obviously i couldn't be more honored to be back in the white house, but i'm already missing the time that i spent on the campaign visiting towns like this and talking to folks like you. >> love you. >> i love you back. you know what, one o
. >>> more talks today aimed at avoiding the fiscal cliff. time geithner going to capitol hill to meet with leaders of the highways and -- leaders of the house and senate. meantime, a report coming out a few minutes on october pending home sales investors will be watching that. stocks this morning are higher, economic growth last quarter stronger than previously thought. seems like folks on wall street, a little more optimistic there will be a budget deal reached. bloomberg index also higher. i know people like hearing about new and unusual products. there's a lot this year. bacon lovers may be happy to hear, bacon shaving cream, about $15 a jar, high end luxurious bacon scented shaving creep for all skin types best used after a hot shower or before a date you my -- they make other bacon products. live at the new york stock exchange, i'm jane king. >> you take bacon with you into eternity, jane thank you. >> just don't wear that shaving cream going out on a date with a vegetarian or something. ugh! >> oatmeal after bacon the next day helps. >> haven't heard that. >> i don't think so. >
his brain, unquote. >>> when those talks over the fiscal cliff seem to be heading towards a stalemate but do the capitol hill theatrics tell the whole story? here's thousand politico summed it up, listen to top democrats and republicans talk on camera and it sounds like they could not be further apart. but behind the scenes top officials who have been involved in the talks for many months say the contours of the deal are starting to take shape. well, joining me are jason johnson a political professor, t and a republican strategist ron bonjene, ron, let's start with you, both sides know they'll have to make a deal. one congressman says to get it there has to look like this was fighting this way it's kind of like managing the public's expectati expectations, oh, we didn't give anything, oh, we didn't either. is this rhetoric all just for the show of it? >> part of it is and part of it isn't. part of it is, you know, both sides have to stake out their territory, in any negotiation, you know, you have to show what you want, most of what you want first and then you start really negotiating
on encouraging news from washington on the "fiscal cliff" issue. ashley morrison of cbsmoneywatch.com joins us. good morning, ashley. >> reporter: good morning, to you, frank and michelle. asian markets got a lift this morning on growing optimism from debt talks in washington. tokyo's nikkei rose 1% while hong kong's hang seng also gained about 1%. the improvingometer mitchell on the "fiscal cliff" gave wall street a boost, as well. the dow added 106 points after being down triple digits earlier in the day. while the nasdaq was up 23. >> could the dollar bill be going out of style? a congressional panel is once again calling for the u.s. to stop printing singles and switch entire to dollar coins. the nonpartisan panel believes the switch could save taxpayers money. it is more expensive to produce the coins but they last about 6 types longer than the paper bills. i don't know. it's going to make my bag heavier for sure. >> that's what i was thinking. my purse is already heavy. >> got four bucks? let me see it here. >> ashley, from time to time frank will go and make a starbucks run for us but i
in never neverland. so much for a week of work here in washington to avert what's called the fiscal cliff. treasury secretary tim geithner gave house republicans new ideas on resolving the fiscal cliff. and left with their anger ringing throughout the capitol. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. i've got to tell you, i'm disappointed. >> reporter: here are the big white house numbers. for $4 trillion deficit reduction in ten years, $1.6 trillion comes from households earning more than $250,000 a year. $400 billion in entitlement cuts in program like medicare and medicaid and $50 billion in new spending next year for inf infrastructu infrastructure. there's another idea. a permanent cease fire on raising the debt ceiling now $16 trillion that would allow it to rise automatically. republicans use the debt ceiling last year to extract spending cuts and they don't want to give up that leverage. >> there's a lot of things i've wanted in my life but almost all of them had a price tag attached to them. and if we're
sweaters. >> we are also talking about as julia was commencing there the fiscal cliff now what washington the gridlock means i think it's most telling because what senator matt baucus from montana said we have 31 days left yet. we are not near a deal yet. we can't expect any sort of a deal with any weeks before christmas i would think. >> the big knock on the president through the this process has been a failure to lead. i think one that sticks rather well. because, instead of sitting down with john boehner. instead of trying to hash something out. he is out there again campaigning, gives speeches, instead of being the one that sits down and gets this deal down. here is the president on again what appears to be the campaign trail yesterday in pennsylvania. >> santa delivers everywhere, i have been keeping my own naughty and nice list for washington. >> [ laughter ] >> you should keep your eye hun gets some connects this year. some members of congress who get them and some who don't. i'm ready to sign it. there are no shortage of pens in the white house. and i carry one around for an emerg
and the senate, this fiscal cliff we all read about and talk about. because that would be very dangerous to the people, not only a state of new jersey but the other states in the metropolitan area. the tri-state area. we are working with members of the ways and means committee, as a member myself, to draft legislation modeled after other epic storms which we bring some tax relief. allowing businessebusinesse s to expense the cost of disaster recovery is critical when we see him and businesses have been wiped out. helping rebuild damaged low income houses and providing health and finance, the task of rebuilding infrastructure. what we have now in fema is not good enough for the loss in small businesses. it just isn't. we don't need low interest loans. what we need is a new addressing of the major problems. small businesses are not satisfied with low interest loans at this point. is beyond the. it needs to be responded to, and i hope this legislation will do that. you take a look at the ninth congressional district. two towns were wiped out when the hackensack river rose above its berm you
and the white house. house republican leaders have made a counter offer to president obama in the fiscal cliff negotiations proposing to cut to true knowledge with a combination of spending cuts come entitlement reform, and new tax revenues. there was a three page letter signed by speaker boehner, majority leader eric cantor, and other senior republicans including representative paul ryan. and this mornings "washington journal," we heard about tax reductions and credits that would go away if the fiscal cliff passes in january. >> board or series looking into the so-called fiscal cliff, we turn our attention to deductions and tax loopholes. some of them are potentially on the chopping block. joining us from the wall street journal is don mckinnon. thanks so much for joining us today. what are the loopholes and deductions? we hear those words a lot, but what are they? guest: loopholes or tax breaks of all different sorts, and whether you like a particular loophole or not depends on where you sit, i guess. there are lots of loopholes that are deductions. deductions are those that most people are
in hollywood will take quite the hit if we go over that fiscal cliff. connell: apples chief executive says he is ready to bring some manufacturing.com. back to america. we are talking about a lots about apple apple the past few days. talking about cliffs. apples chart looks like one lately. why do you like what bad things happen to, well, anyone? dagen: rhetorical question. ♪ want to try to crack it? yeah, that's the way to do it! now we need a ltle bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care professionals who undstand the difference that quality time with our members can make... that's a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospitals, pharmacists and other health professionals ho helped us achieve the highest average star rating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... youefforts result in the quality of care d se
in fiscal cliff negotiations. there was some talk immediately afterwards some of his discussions or ideas on deductions, eliminating some tax deductions could be helpful, but romney made it clear he doesn't want to play a role in those talks. >> david, who would you be with this weekend on "meet the press"? >> talking to timothy geithner, talking about where the negotiations are, where the pain point is for democrats in terms of where they're willing to make cuts, that's an important question for republicans as discussions go forward. >> one of the men at the center of all of this. david gregory, thanks so much, david. >> thanks, willie. >>> let's check the day's other top stories. natalie morales at the news desk. >> good morning. the senate expected to vote today on a new package of tough sanctions against iran. last night, secretary of state hillary clinton offered iran a last chance to come clean about the nuclear program. nbc's chief foreign affairs correspondent andrea mitchell is in washington with details. good morning. >> good morning. hillary clinton made signature over ture. af
by this afternoon. >>> and it looks like those talks in washington to avoid that so-called fiscal cliff, looming at year's end, will go down to the wire after all. senate republican leader mitch mcconnell says that he laughed out loud thursday when he saw president obama's latest plan to avoid a middle-class tax increase. republicans are demanding more spending cuts. >>> and just as millions of americans shop online, rely on their gifts to be shipped by the holidays, the biggest seaports in the country are at a virtual standstill. union workers at the los angeles and long beach terminals are on strike. protesting outsourcing of jobs. 40% of all u.s. imports come through those terminals. negotiations are set to resume today. >>> very unusual scene just south of there, in san diego. an out-of-control truck slammed into a fire hydrant, sending water shooting cinematically 30 feet into the air. like a geyser. the truck actually plowed into a bar, leaving a gaping 11-foot hole in the wall. thankfully, no one was hurt. >>> now, here's diane sawyer, with a preview of tonight's "world news." diane? >> j
is he in a staredown with congress over the fiscal cliff. but a choice for his cabinet may come at the end of this month. and his choice may be a surprising one. we're talking about the top spot for the defense department. >> reporter: we were talking that the president probably next week who he would like to go to the state department. but maybe he's going to do a package deal next week. state department nominee, as well as defense department nominee. and there could be a couple of surprises here. these are the names we've been hearing over the last couple weeks. one is interesting. chuck hagel, a former senator. he's a republican. also, john kerry, currently in the senate. michelle flournoy. hagel would be an interesting pick. if he picks hagel, a republican, that takes some of the heat off of susan rice to be nominated as secretary of state. she's had a tough time on capitol hill talking to republicans. if you get a package deal, a republican and a democrat, that you're nominating from the president. what are senators going to do, but take both of them? we're hearing, if the
cuts could be avoided if a grand bargain is struck to avoid the fiscal cliff. if not, it will get ugly, shep. >> shepard: yeah, it will. give us an idea what we are talking about in the way of cuts here if this happens. >> as you mentioned they are split between domestic and defense cuts. let's take a look at the domestic cuts. educational programs including special education will be cut by $2.3 billion medicare payments to hospitals cut by $5.6 billion. prescription drug benefits lose $591 million. on the defense side, across the board 9.4% cut regardless of the program's merit. defense department operations and maintenance loses $3.9 billion in 2013. air force and navy aircraft purchases get cut by more than $4.2 billion. that is why some are calling cutting with a machete instead of a scalp pull. shep? >> shepard: stocks closed higher after a choppy day of trading. dow industrial average eked out 4 point gain over uncertainty about fiscal cliff thing. weakest spending report since may. a lot of storm out of that. according to the commerce department, spending dropped .2% last month.
of preventing the u.s. from falling off the "fiscal cliff." treasury secretary tim geithner and a white house aide plan to visit with the four house and senate leaders. they hope to find common ground on how to avert a series of tax increases and spending cuts scheduled to begin in january. >>> president obama will have lunch with mitt romney today the first time they meet face to face since their debate before the election. the event at the white house will be private. no aides will be present. no media will be allowed. >>> powerball ticketholders are checking their numbers twice today. >> yeah. good luck. the record-breaking jackpot $588 million. the numbers drawn last night just in case 5, 16, 22, 23, 29 and the powerball number was 6. two winning tickets sold in arizona and missouri. californians may be able to cash in though on powerball prices next year. it's not in our state but lottery officials are meeting this morning up in sacramento trying to hammer out details that would allow the golden state to join the 42 other states in the powerball drawing. california state officials say by
and that fast-approaching fiscal cliff. president obama has rejected the latest republican offer. he's taking a very hard line in the talks. >>> there's growing outage here in new york city over a front-page photo from "the new york post" yesterday. this man has just fallen down on the tracks. is just seconds away from a subway train hitting and killing him. many people upset why the photographer was taking the picture and not helping the man. this morning, he's talking out, justifying why he took the photo. and why so many other folks were running away. there's nobody there trying to help him off the tracks. >> he says he was trying to help. we're going to get into that. >>> also, you guys over there took advantage of the spring weather yesterday. >> yes, we did. we needed a walk. but more importantly, we needed to see our old pal, robin. we got to walk through the riverside park, as the sun was setting on a beautiful day in manhattan. it's always the case. she's always the -- >> she looks fantastic. >> she is the best medicine for us. it was amazing. >> and let me tell you, only one of us f
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